I am hoping to move into my new home in Pentyrch next Friday. I have now been asked to send a copy of my building insurance schedule by my solicitor as he says that he has to check this in his capacity as lawyer for the mortgage company. What risks does the lender expect the insurance to cover?
All property lawyers on acting for lenders would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s Part 2 instructions. These obligations are not specific to conveyancing in Pentyrch.
My lender has suggested a law firm on their panel based in Pentyrch but I would rather instruct a conveyancing lawyer in Pentyrch or nearer to where I live. Are you able to help?
The minority of Pentyrch conveyancing practices are listed all lender’s conveyancing panel. Use our find an approved solicitor tool to identify a Pentyrch conveyancing solicitor on the on the lender panel.
I am currently in the process of buying my council flat in Pentyrch. I have a mortgage offer with Bank of Ireland. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Bank of Ireland, you will need to appoint a solicitor on the Bank of Ireland conveyancing panel.
I had an offer accepted on an apartment in Pentyrch on 21/2/2023, valuation was booked 2 days after, all came back fine. Solicitor appointed, so the only thing outstanding was my mortgage offer. Having made daily calls to Yorkshire BS and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Yorkshire BS conveyancing panel. Are Yorkshire BS entitled to hold back the Mortgage pending the lawyer being on the approved list?
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Yorkshire BS to deal with your lawyer's application to be on the Yorkshire BS conveyancing panel. There's no guarantee that your solicitor will be accepted.
Our offer on a house in Pentyrch has been agreed to, but there is a chain. The vendors have offered on a property, however it’s not been accepted yet, and are looking at other flats booked. I have selected a bricks and mortar conveyancing solicitor in Pentyrch. What do I do now? At what point should I apply for the mortgage with Kent Reliance?
It is normal to have apprehensions where there is a chain as you are unlikely to want to incur expenses prematurely (home loan application is in the region of one thousand pounds, then survey, Pentyrch conveyancing search costs, etc). First, you should check that your solicitor is on the Kent Reliance approved list. Regarding the next stages this very much depends on the circumstances of your transaction, desire for the property and on the state of the market. In a hot market some purchasers would apply for the mortgage with Kent Reliance and pay for the valuation and only if it was satisfactory would they request their lawyer to proceed with the conveyancing in Pentyrch.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in last month in what was supposed to be a straight forward, no chain conveyancing. Pentyrch is the location of the property. Can you shed any light on this issue?
Flying freeholds in Pentyrch are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Pentyrch you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Pentyrch may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I am employed by a busy estate agent office in Pentyrch where we have witnessed a few flat sales jeopardised due to short leases. I have received inconsistent advice from local Pentyrch conveyancing firms. Can you confirm whether the owner of a flat can commence the lease extension process for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the disposal of the property.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I inherited a 2 bed flat in Pentyrch, conveyancing having been completed 10 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Similar flats in Pentyrch with an extended lease are worth £206,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease finishes on 21st October 2089
With 66 years unexpired we estimate the price of your lease extension to be between £11,400 and £13,200 plus legals.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed due diligence. Do not use this information in tribunal or court proceedings. There may be additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.
Been reading online that Pentyrch solicitors are more expensive than Pentyrch conveyancers in Pentyrch when it comes to purchasing a property. Am I better off using a conveyancer or a solicitor if I am buying a house in Pentyrch.
When it comes to conveyancing in Pentyrch the costs are unlikely to vary dramatically depending on whether the legal expert is a licenced conveyancer or solicitor.